Following the recent DANA (Depresión Aislada en Niveles Altos) storms that caused significant flooding in Valencia, the European Investment Bank (EIB) has expedited financial support for the affected regions.
In response to severe infrastructure damage, the EIB announced an immediate funding package to support critical reconstruction efforts in coordination with Spanish national authorities.
EIB Group President Nadia Calviño emphasised the need to “build back better,” adapting infrastructure to withstand future extreme weather events. The funding will focus on resilience, prioritising climate-adapted designs to protect communities against frequent climatic shocks.
€900 million for urgent infrastructure reconstruction
The EIB’s initial €900 million financing package will aid restoration of homes, businesses, and essential infrastructure damaged by the floods. By fast-tracking this support, the EIB aims to enable Valencia’s regional authorities and public bodies to implement urgent recovery measures. This approach mirrors earlier EIB responses to natural disasters in Central Europe, where prompt funding helped expedite recovery.
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EIB’s largest agricultural investment: €3 billion pan-European programme
In addition to flood recovery support, the EIB has launched its largest-ever financing program for agriculture: the €3 billion Pan-European Agricultural Programme. This initiative will close financial gaps in Europe’s agricultural sector. Furthermore, it will promote sustainability and resilience as part of the EU’s Green Deal goals. This includes helping farmers adapt to climate change, improving water management, and advancing digital agriculture tools.
The program supports young farmers and fosters gender equality in agriculture, ensuring inclusive access to resources. It also encourages sustainable practices, such as reducing greenhouse gas emissions, increasing biodiversity, and promoting a circular economy. Investments will target climate-resilient crop varieties and post-harvest loss reduction, helping secure Europe’s food systems against environmental shifts.
Additional €465 million in agricultural and forestry investments
The EIB’s commitment to agricultural development extends beyond the Pan-European programme. An additional €465 million was allocated for projects in Spain, Kazakhstan, and sustainable forestry in Côte d’Ivoire. These investments reinforce the EIB’s dedication to rural resilience, food security, and sustainable land use.
€1.2 billion for education, transport, and urban development
With an additional €1.2 billion, the EIB is backing infrastructure improvements in schools across France and Hungary, urban transport expansion in Lyon, and urban infrastructure upgrades in Madrid and Poznan.
About the European Investment Bank (EIB)
As the EU’s long-term lending institution, the EIB finances projects aligned with EU policy objectives, supporting sustainable development, innovation, and economic growth across member states. In 2023 alone, the EIB Group signed €88 billion in new financing for over 900 projects, aiming to mobilise around €320 billion in investment, supporting approximately 400,000 businesses and 5.4 million jobs.
Through its investments, the EIB helps strengthen Europe’s competitiveness, fosters climate resilience, and drives the transition towards climate neutrality. The bank’s ongoing commitment to projects like Valencia’s flood recovery highlights its role in addressing urgent challenges within the EU and beyond.